U.S. Presidential Odds: Dems Favorites

Heading into the second presidential debate of the U.S. election Barack Obama and the Democratic Party are still in the lead on the odds at the online sportsbooks, but Mitt Romney and the Republican Party have been catching up over the past few weeks.

"Obama's massive lead has slowly dwindled to a close horse race, especially after the last debate dropping from -500 to -210 going into tonight’s much anticipated debate," said Bovada sportsbook manager Kevin Bradley.

"The next two debates will clearly have an impact on the undecided voters, whether it is enough to put Romney over the top is still to be told, but if Obama has a performance like he did last time I can see Obama going to under -200 for the first time in months.”

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With the debate on tap for Tuesday night at Hofstra University, Romney is up to +170 at Bovada on the odds to win the U.S. presidential election, with Obama pegged at -210 on that political prop wager. Election Day is Tuesday, November 6.

After the first debate of the U.S. presidential race the sportsbooks have been seeing money come in on Mitt Romney and the Republicans to win the November 6 election.

Barack Obama and the Democratics were big favorites to win the election in the summer but Wednesday's debate led to money being laid down on the Republican Party, says Bovada sportsbook manager Kevin Bradley.

“Last night we had the Democrats at -450 to win the election but saw non-stop action leading up to the debate on the Republicans getting over 3-1 on your money at +325, maybe expecting a strong performance by Mitt Romney."

"After the debate, which the consensus seems to be that Romney may have gained some ground, there was quite a move on the odds with the Democrats currently at -300 and the Republicans down to +240 and even with the drop in odds we have only seen Republican money come in all morning.”

2012 US Presidential Election Odds at Bovada:Democratic Party -300Republican Party +240

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The betting market believes Barack Obama’s lead in the U.S. presidential race is growing - and Mitt Romney’s selection of Paul Ryan as his running mate did little to stem the tide.

In July, the Democratic Party was listed as only a -150 favorite to win the upcoming U.S. presidential election at Bovada, but the odds have been increasing steadily in their favor since then.

“A steady flow of money has been coming in on [the Democrats] at the rate of about 60 percent compared to the Republicans,” said Bovada sportsbook manager Kevin Bradley. “In spite of Paul Ryan being announced as Romney’s running mate, the line has once again moved in Obama’s favor going from -180 to -200 in the last couple days.”

The presidential odds also moved at Pinnacle Sports after Saturday's announcement, with the Democrats going from -173 to -178 by Monday morning. Election Day is November 6.

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